Assignment 1: Information Interview Submit Files
Submission Folder
Assignment 1: Information Interview
Instructions
Informational Interview (20%)
The information Interviews = two separate interviews: the first involves meeting and interviewing an entrepreneur
or business owner to gather information as to their business experience, strategy, and operations.
The second consists of interviewing a commercial banker or other financial professional, to obtain information
as to the bank loan requirement and approval process, and/or investment requirements and strategy, as well as
critical factors needed for a banker or investor positive business plan.
You should not wait until the due date to prepare, as meetings may be difficult to arrange at short notice. While facetoface interviews
are preferable, if your work schedule inhibits such preparation, you may conduct the interviews by telephone or via online/email
format.
Required Elements to include in the Informational Interview Write Up:
Students are responsible for developing questions that will garner the responses necessary to address the key elements of the
assignment.
Include all of the following elements in your interview report:
Provide a brief description of the business which includes the business form the nature of the business, how many years in business, and
whether the business is local in nature, national, or international in scope;
Why did the person decide to go into business, and what was the biggest obstacle they had to overcome in the early stages of the business;
Did the owner develop a Business Plan before starting the business, why or why not;
Discuss what makes the business unique and different from its competition and what is its value proposition;
Does the company have a clearly defined strategy, what do you believe it is;
Discuss the owners marketing and sales strategy for gaining and maintaining new business opportunities;
What core business functions if any did the business decide to outsource and why;
Discuss the hiring process and the core values that have been established for the organization;
Discuss the financial management tools and metrics that the business owner depends on too manage growth and profitability;
Discuss keys to success, from the owner's perspective;
What the person would do differently if he/she had it to do all over again.
Critically assess the current status of the business based on concepts presented in class. What would you say is the future for this
business? Would you invest in this business? Why or why not?
Interview questions must be included as an addendum to the assignment; however, these should not be counted toward the length
requirement of the paper.
For the financial report, consisting of an interview with a commercial banker, investor, or financial professional, the content should include discussing
the loan origination and approval process if interviewing a banker, the investor analysis, decision making, and due diligence process if interviewing
an investor or financial professional,
For either banker or investor, discuss the importance of and key material sections of the business plan for reaching an approval decision.
Required Formatting of Informational Interview Report:
This report should be double spaced, 12point font, and three to five pages in length excluding the title page and reference page;
Title page;
Introductory paragraph and a summary paragraph;
Use headings;
Write in the third person;
Use APA formatting for intext citations and a reference page. You are expected to paraphrase and not use quotes. Deductions will be taken
when quotes are used and found to be unnecessary;
Submit the paper in the Assignment Folder.
Hide Rubrics
Rubric Name: Interview w/Entrepreneur (20%)
Criteria
Critical
Thinking/Reasoning
Outstanding
Superior
Good
Substandard
Failure
5 points
4.25 points
3.75 points
3.25 points
2.75 points
shows occasional critical
thinking; questions &
shows little
critical thinking,
lacks critical
thinking
demonstrates a high shows good critical thinking;
degree of critical
accurately interprets most
thinking, is
questions & material;
material is at times
consistent in
usually identifies relevant
accurately interpreted;
accurately
arguments/reasoning/claims; arguments/reasoning/claims
interpreting
offers good analysis &
are occasionally explained;
questions &
evaluation with fairly sound
offers fair analysis &
material; provides
conclusions
evaluation with a conclusion
solid assumptions,
reasoning & claims;
thorough analysis &
evaluation with
sound conclusions
Application of
Concepts/Development
Development of
Interview Questions
Attention to
Instructions
Clarity; including
grammar
Adherence to APA (6th
ed.)
Overall Score
5 points
4.25 points
arguments or
arguments or positions are
positions are well
mostly supported by
supported with
evidence from the readings
evidence from the
and course content; ideas
readings/experience;
presented demonstrate
ideas go beyond the student’s understanding of
course material and the material and concepts
recognize
implication and
extensions of the
material and
concepts
4 points
3.4 points
3.75 points
demonstrated full
understanding of
requirements;
responded to each
aspect of
assignment
2.55 points
3.25 points
arguments are more often
arguments are
based on opinion or unclear frequently illogical
views than on position
and
grounded in the readings of unsubstantiated;
material or external sources
student may
of material
resort to ad
hominem attacks
on the author
instead of making
meaningful
application of the
material
3 points
questions are logical
questions are somewhat
questions demonstrate a
and effective;
logical but slightly limiting; degree of logic but are very
enables writer to
enables writer to achieve a
limiting; hinders writers
fully understand the degree of understanding but ability to fully understand
facets of the
a key facet of the business the nature of the business
entrepreneur's job
or responsibility of the
and the scope of the
and the skill sets
entrepreneur is missing
entrepreneur responsibilities
involved in carrying
out the day to day
responsibilities of
the business
3 points
misinterprets
consistently offers
questions or
biased
material; ignores
interpretations;
or superficially
ignores or
evaluates;
superficially
justifies little and evaluates; argues
seldom explains
using poor
reasoning; draws reasoning, and/or
unwarranted
unwarranted
conclusions
claims
2.25 points
2.6 points
2.75 points
arguments lack
meaningful
explanation or
support of ideas
2.2 points
some questions
questions are
are appropriate
irrelevant and fail
but key points are to draw essential
missing; enables
information
writer to
understand either
the facets of the
business or the
scope of the
entrepreneur's
responsibilities
but not both
1.95 points
demonstrated understanding
demonstrated some
failed to show a
of requirements; missed one
understanding of
firm
minor aspect of assignment requirements; missed a key understanding of
element or two minor
requirement;
aspects of assignment
missed two key
elements or
several minor
aspects of
assignment
1.65 points
did not
demonstrate
understanding of
assignment
requirements
2 points
1.7 points
1.5 points
1.3 points
1.1 points
writing is clear and
easy to follow;
grammar and
spelling are all
correct; formatting
gives a professional
look and adds to
readability
most ideas are presented
clearly; occasional spelling
and/or grammar issues
wordy; some points require
rereading to understand
fully; more than an
occasional spelling and/or
grammar
unclear and
difficult to
understand;
frequent spelling
and grammar
issues
largely
incomprehensible
writing/poorly
written in terms of
mechanics and
structure
1 point
0.85 points
0.75 points
0.65 points
0.55 points
no APA style errors
Outstanding
18 or more
attempts intext citation and attempts intext citation and attempts either no attempt at APA
reference list but 1 or 2 APA
reference list; APA style
intext citation or
style
style errors are present
errors are present;
reference list but
inconsistencies in citation
omits the other
usage can be found
throughout the document
Superior
16 or more
Good
14 or more
Substandard
12 or more
Failure
0 or more
Running head: INFORMATIONAL INTERVIEW
Informational Interview
Student’s Name
Number
Course
Professor
Date
1
INFORMATIONAL INTERVIEW
2
Informational Interview
Informational interviews are critical towards the collection of information. In this
particular case, an interview was conducted on a business which mainly deals with food stuffs.
The business where the interview was conducted is a partnership that is involved in the sales and
distribution of food products. The business acquires its products directly from farmers and
supplies the products to some of its shops and also to some other suppliers who help them with
the sales and distribution. The business has been in operation for the last three years and it has a
wide local network.
Food Heaven as it is referred to has 5 stores in the whole country. However, these stores
are not enough to supply all the products that it gets from the farmers. Therefore, this is the
reason as to why it ends up getting some of its supply work done by some other suppliers and
distributors. It can be said that the business has a national face since the stores it owns are spread
all over the country. Nonetheless, the business is focused to grow and has plans to start
processing foods and selling them to international markets where it has determined there is
demand for certain food products.
According to the CEO of Food Heaven, the decision to enter into business was a
progressive one which was major influenced by his family which owns some businesses. He
noted the good returns that they were making and decided that he could do the same with his life.
However, he decided to take a different route since his family was involved in assembly of
motorcycles while he decided to enter into the food market. The biggest obstacle that the person
faced was the lack of capital in the first place as they were starting the business. However, they
were able to overcome this through financing which they acquired through the banks.
INFORMATIONAL INTERVIEW
3
Interestingly, when the owner was starting the business, they never develop a business plan. The
reason why they never did so was because they did not understand the importance of the business
plan in the first place. However, the owner confesses that as he was going about his business
after some months, he noted that things were not working out well so he had to sit back and plan
for the future of the business. That is when he did the business plan.
There are certain aspects of his business that makes it unique when compared to his
competitors. Firstly, the business only supplies naturally grown foods. Although there are others
food products suppliers in the market who do the same, not many of them have the mechanism to
ascertain that the foods are grown naturally. In Food Heaven, there are laboratory facilities and
specialists who have been tasked with the sole responsibility of ascertaining the quality of the
food products to determine whether they have been grown naturally or not. This is quite unique
and assures the clients of the quality of the products. Another unique aspect of the business is
that they also offer personalized delivery services of these products straight from the farms to the
clients. This allows the clients to acquire very fresh products.
The company does have a very clear objective which is to provide healthy naturally
grown foods when still fresh. The clarity is laid out in how it is carrying out its current
operations. The company does have mechanisms that enable it to accomplish this tasks this far.
However, the CEO was open and he noted that they were experiencing challenges with the
distribution network in terms of capacity. As such, they had to subcontract some distribution
duties to other companies. This in the long run has been affecting their cost of doing business
and the product’s process. However, he noted that they are working on how to better the
situation. The business was outsourcing the supplies business function to some extent.
INFORMATIONAL INTERVIEW
4
The hiring process at the business is quite interesting. The management of the business
does not hire any personnel based on a one time off interview session. What they do is that they
conduct an interview and then they select a few successful candidates and employ them on a two
months paid for probation period. During this period, the candidates are analyzed and monitored
and even tested to determine how they would fare in the business. Once they pass these tests,
they get to be permanently employed.
To manage the growth and profitability of the business, the CEO does use financial smart
assistants and software which offer the best analysis of data and provide predictions on future
trends based on this data. He also seeks support and advice from the banking sector who advise
him on financial matters. From the owner’s perspective, the key to success in business if to be
sharp and focused on the business and to only work towards set goals and visions. In this
context, he noted that he started off without a clear plan but due to shear focus and
determination, he was able to correct that error and things did work out well in the long-run.
The business owner stated that if he was to start all over again, he would have started the
business with a clear business plan that had been properly researched. He gave the reason for this
opinion to be that if he had such a plan at the start, he would have been more focused and would
have made much more progress than he has now. Currently, the business is at a boom where
there is no much competition and other external and internal forces that are inhibiting its growth.
The market is large enough and it has not exhausted its potential yet. The demand for the product
is more than the business can supply and therefore there is surplus demand which encourages the
business to increase prices and make more money. However, it is important to note that there is
an effect on the supply and demand curve when the prices are increased due to high demand and
INFORMATIONAL INTERVIEW
5
surplus demand (Roberts & Schlenkera, 013). Often, this will lead to decreased demand and the
supplier will end up lowering the prices again in order to keep the clients.
In consideration of the current state that the business is in I would definitely invest in the
business. Chances are quite high that the business will develop into a major corporation since in
the world right now people are searching for naturally grown food products. In this context, I
would say that the future of this business is quite promising.
INFORMATIONAL INTERVIEW
6
References
Roberts, M. J., & Schlenkera, W. (2013). Identifying supply and demand elasticities of
agricultural commodities: Implications for the US ethanol mandate. The American
Economic Review, 103(6), 2265-2295.
INFORMATIONAL INTERVIEW
7
Interview Questions
a. What is the business name?
b. Who are you to the business?
c. How long have you been in business?
d. Describe your business (products, jurisdiction, employees, client-base, etc.)?
e. Are you a local, international or national business?
f. Why did you decide to do this business?
g. Is your business unique? Describe why.
h. What is your business strategy?
i. What is your sales and marketing strategy?
j. What is the hiring process at your business?
k. What are the core values of your business?
l. Which financial management tools do you use in your business?
m. What would you do differently if you were given a chance to start all over again?
n. What would you state to be the key to success in the business context?
Running head: INFORMATIONAL INTERVIEW
Informational Interview
Student’s Name
Number
Course
Professor
Date
1
INFORMATIONAL INTERVIEW
2
Informational Interview
Informational interviews are critical towards the collection of information. In this
particular case, an interview was conducted on a business which mainly deals with food stuffs.
The business where the interview was conducted is a partnership that is involved in the sales and
distribution of food products. The business acquires its products directly from farmers and
supplies the products to some of its shops and also to some other suppliers who help them with
the sales and distribution. The business has been in operation for the last three years and it has a
wide local network.
Food Heaven as it is referred to has 5 stores in the whole country. However, these stores
are not enough to supply all the products that it gets from the farmers. Therefore, this is the
reason as to why it ends up getting some of its supply work done by some other suppliers and
distributors. It can be said that the business has a national face since the stores it owns are spread
all over the country. Nonetheless, the business is focused to grow and has plans to start
processing foods and selling them to international markets where it has determined there is
demand for certain food products.
According to the CEO of Food Heaven, the decision to enter into business was a
progressive one which was major influenced by his family which owns some businesses. He
noted the good returns that they were making and decided that he could do the same with his life.
However, he decided to take a different route since his family was involved in assembly of
motorcycles while he decided to enter into the food market. The biggest obstacle that the person
faced was the lack of capital in the first place as they were starting the business. However, they
were able to overcome this through financing which they acquired through the banks.
INFORMATIONAL INTERVIEW
3
Interestingly, when the owner was starting the business, they never develop a business plan. The
reason why they never did so was because they did not understand the importance of the business
plan in the first place. However, the owner confesses that as he was going about his business
after some months, he noted that things were not working out well so he had to sit back and plan
for the future of the business. That is when he did the business plan.
There are certain aspects of his business that makes it unique when compared to his
competitors. Firstly, the business only supplies naturally grown foods. Although there are others
food products suppliers in the market who do the same, not many of them have the mechanism to
ascertain that the foods are grown naturally. In Food Heaven, there are laboratory facilities and
specialists who have been tasked with the sole responsibility of ascertaining the quality of the
food products to determine whether they have been grown naturally or not. This is quite unique
and assures the clients of the quality of the products. Another unique aspect of the business is
that they also offer personalized delivery services of these products straight from the farms to the
clients. This allows the clients to acquire very fresh products.
The company does have a very clear objective which is to provide healthy naturally
grown foods when still fresh. The clarity is laid out in how it is carrying out its current
operations. The company does have mechanisms that enable it to accomplish this tasks this far.
However, the CEO was open and he noted that they were experiencing challenges with the
distribution network in terms of capacity. As such, they had to subcontract some distribution
duties to other companies. This in the long run has been affecting their cost of doing business
and the product’s process. However, he noted that they are working on how to better the
situation. The business was outsourcing the supplies business function to some extent.
INFORMATIONAL INTERVIEW
4
The hiring process at the business is quite interesting. The management of the business
does not hire any personnel based on a one time off interview session. What they do is that they
conduct an interview and then they select a few successful candidates and employ them on a two
months paid for probation period. During this period, the candidates are analyzed and monitored
and even tested to determine how they would fare in the business. Once they pass these tests,
they get to be permanently employed.
To manage the growth and profitability of the business, the CEO does use financial smart
assistants and software which offer the best analysis of data and provide predictions on future
trends based on this data. He also seeks support and advice from the banking sector who advise
him on financial matters. From the owner’s perspective, the key to success in business if to be
sharp and focused on the business and to only work towards set goals and visions. In this
context, he noted that he started off without a clear plan but due to shear focus and
determination, he was able to correct that error and things did work out well in the long-run.
The business owner stated that if he was to start all over again, he would have started the
business with a clear business plan that had been properly researched. He gave the reason for this
opinion to be that if he had such a plan at the start, he would have been more focused and would
have made much more progress than he has now. Currently, the business is at a boom where
there is no much competition and other external and internal forces that are inhibiting its growth.
The market is large enough and it has not exhausted its potential yet. The demand for the product
is more than the business can supply and therefore there is surplus demand which encourages the
business to increase prices and make more money. However, it is important to note that there is
an effect on the supply and demand curve when the prices are increased due to high demand and
INFORMATIONAL INTERVIEW
5
surplus demand (Roberts & Schlenkera, 013). Often, this will lead to decreased demand and the
supplier will end up lowering the prices again in order to keep the clients.
In consideration of the current state that the business is in I would definitely invest in the
business. Chances are quite high that the business will develop into a major corporation since in
the world right now people are searching for naturally grown food products. In this context, I
would say that the future of this business is quite promising.
INFORMATIONAL INTERVIEW
6
References
Roberts, M. J., & Schlenkera, W. (2013). Identifying supply and demand elasticities of
agricultural commodities: Implications for the US ethanol mandate. The American
Economic Review, 103(6), 2265-2295.
INFORMATIONAL INTERVIEW
7
Interview Questions
a. What is the business name?
b. Who are you to the business?
c. How long have you been in business?
d. Describe your business (products, jurisdiction, employees, client-base, etc.)?
e. Are you a local, international or national business?
f. Why did you decide to do this business?
g. Is your business unique? Describe why.
h. What is your business strategy?
i. What is your sales and marketing strategy?
j. What is the hiring process at your business?
k. What are the core values of your business?
l. Which financial management tools do you use in your business?
m. What would you do differently if you were given a chance to start all over again?
n. What would you state to be the key to success in the business context?
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